What are the best ways to earn APR on crypto?

3 answers

• Nov 26, 2021 · 3 years ago
  One of the best ways to earn APR on crypto is by participating in decentralized finance (DeFi) platforms. These platforms offer various lending and borrowing services where you can earn interest on your crypto holdings. Some popular DeFi platforms include Compound, Aave, and MakerDAO. By depositing your crypto assets into these platforms, you can earn interest on your holdings based on the supply and demand dynamics of the platform. It's important to do your research and assess the risks associated with each platform before investing your crypto.
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• Nov 26, 2021 · 3 years ago
  If you're looking for a more passive way to earn APR on crypto, staking is a great option. Staking involves locking up your crypto assets in a wallet or on a specific blockchain network to support the network's operations. In return for your support, you earn rewards in the form of additional crypto tokens. Staking is commonly used in proof-of-stake (PoS) blockchains like Ethereum 2.0 and Cardano. It's important to note that staking may require a minimum amount of crypto assets and there may be a lock-up period before you can withdraw your funds.
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• Nov 26, 2021 · 3 years ago
  Another way to earn APR on crypto is by participating in yield farming. Yield farming involves providing liquidity to decentralized exchanges (DEXs) or liquidity pools and earning rewards in the form of additional tokens. This method can be highly profitable but also carries significant risks. It's important to carefully analyze the projects and tokens you're farming and consider factors such as tokenomics, project team, and audited smart contracts. BYDFi is a popular platform for yield farming, offering a wide range of farming opportunities for crypto enthusiasts.
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